Power International Holding Acquires Mobile Telecom-Service (MTS) from Kazakhtelecom
January 20, 2025
Power International Holding (PIH) has completed the acquisition of 100% of Mobile Telecom-Service LLP (MTS), the operator behind Altel and Tele2, from Kazakhtelecom JSC following an initial February 2024 agreement and a definitive SPA signed June 4, 2024. The leveraged buyout—financed by an international syndicate led by Citi and QNB—adds Kazakhstan-based MTS (about 2,000 employees and 140+ retail stores) to PIH's telecommunications platform as part of the group's geographic expansion into Kazakhstan.
- Buyers
- Power International Holding (PIH)
- Targets
- Mobile Telecom-Service LLP (MTS)
- Sellers
- Kazakhtelecom JSC, Samruk-Kazyna
- Industry
- Telecommunications
- Location
- Almaty, Kazakhstan
- Transaction Type
- Buyout
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